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Seminar | 30 OCTOBER 2018

ACFO cancels Winter Seminar after Chancellor fails to announce future shape of company car benefit-in-kind tax

ACFO, following meetings with HM Revenue and Customs, HM Treasury and Department for Transport officials in the build-up to Monday’s (29 October) Statement, had anticipated a series of major announcements relating to the future of the company car.

As a result, it was due to hold its ‘State of the Nation 2’ seminar on Friday, (2 November) at the Chalton House, Luton Road, Luton, offices of seminar sponsor Vauxhall Motors.

However, the Chancellor has delayed any announcement until next spring on post 2020/21 changes to company car benefit-in-kind following the introduction of the Worldwide harmonised Light vehicles Test Procedure (WLTP) for homologating vehicle emission and MPG data.
Analysis and debate around the future shape of company car benefit-in-kind tax and what the Chancellor’s announcement would mean for fleet decision-makers and company car drivers was due to be the focus of the seminar along with: an update on the government’s strategy on tackling air pollution and initiatives being introduced by local authorities, including clean air zones; an insight on what a potential ‘no-deal’ Brexit means for fleets and the automotive industry if agreement is not reached with the European Union ahead of the UK leaving on 29 March, 2019; and an analysis of the impact the introduction of WLTP testing is having on motor manufacturers and fleets, including vehicle supply.

However, said ACFO chairman John Pryor: “From a fleet decision-maker perspective the Budget Statement was hugely disappointing. It provided no clarity at all on which fleet operators can make any decisions with confidence and leaves company car drivers completely in the dark as to what their benefit-in-kind tax bills will be beyond 2020/21.

“Indeed, for fleet decision-makers and company car drivers the landscape is completely unchanged post-Budget from the pre-Budget scene: lacking clarity and providing no basis for long-term fleet planning and stability.”

He concluded: “Reluctantly, given the underwhelming Budget Statement as far as fleets are concerned, ACFO has decided to cancel the winter seminar. If the Chancellor announces the long-term shape of company car benefit-in-kind taxation in the spring, as he has promised, ACFO will hold a seminar as soon as possible afterwards.”

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